when you have a s corporation and LLC?

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when you have a s corporation and LLC?

when are the quarters? what dates?

first quarter
second quarter
third quarter
fourth quarter

and when you get a S corporation, what does it mean from the IRS when it says " $300 penalty for private use" ?

2007-06-22 15:18:12 · 2 answers · asked by beach_babe971 2 in Business & Finance ➔ Corporations

2 answers

The quarters depend upon your fiscal year. For my company, 1st quarter is May, June, July, because we started the corporation in May.

2007-06-23 18:44:42 · answer #1 · answered by jdkilp 7 · 1⤊ 0⤋

1st QTR Jan 1 to Mar 31
2nd QTR Apr 1 to June 30
3rd QTR Jul 1 to Sep 30
4th QTR Oct 1 to Dec 31

No clue on the $300 - I only deal with full C Corps with my businesses

2007-06-22 22:33:33 · answer #2 · answered by Mike Frisbee 6 · 0⤊ 0⤋